Make Rs. 35 = $ 1 today: BJP MP Subramanian Swamy’s ground-breaking idea for Modi government to achieve $5 trillion economy


BJP MP Subramanian Swamy has come up with an audacious idea for the Centre’s Narendra Modi government to achieve its much-talked-about target of $5 trillion economy. Swamy said that the government could simply achieve its target by declaring Rs 35 the new valuation of one American dollar.

BJP MP Subramanian Swamy

He tweeted, “If the Rupee is made Rs. 35 = $ 1 today, then Namo will achieve $ 5 trillion GDP today. And why not? PPP wise $ 1= Rs 14 only. Just consider the price of pizza or of veg burger in American outlets in India such as McDonalds and compare Rs/$ ratio in prices.”

Swamy was reacting to a report by Business Standard, which said that the Reserve Bank of India was reluctant to give the Indian currency a free run despite the country’s foreign-exchange reserves reaching a record $500 billion mark.

The value of a dollar was trading at Rs 76.13 on Friday. This is the lowest value of the Indian currency against the US dollar. Analysts believe that the RBI will continue to let the Indian currency slide further against the US dollar until at least the end of June.

The BJP had raised the issue of devaluation of Indian currency against the dollar in its campaign during the 2014 Lok Sabha elections. Swamy had said on the issue of the devaluation of the Indian rupee during the UPA regime, “All these politicians are dumping containers of cash in the Hawala market. And therefore, this supply of rupees has increased and, therefore, this decline has taken place.”

Swamy has not explained as to who was dumping containers of cash during the Narendra Modi government, thereby pushing the value of the Indian currency to its lowest in history.